Commonwealth Consolidated Acts

FIRST HOME SAVER ACCOUNTS ACT 2008 - SECT 11

             (1)  A contribution to an FHSA or other payment by the Commissioner that is payable under Part 4 of this Act for a person is a Government FHSA contribution of the person.

             (2)  A contribution that a person makes, or that is made for the benefit of the person, to an FHSA held by the person is a personal FHSA contribution of the person (unless the contribution is a Government FHSA contribution of the person).

             (3)  However, a contribution to an FHSA held by a person is not a personal FHSA contribution of the person if:

                     (a)  the contribution is by way of transfer to the FHSA from another FHSA held by the person; or

                     (b)  the contribution is made because of a family law obligation; or

                     (c)  the following conditions are satisfied:

                              (i)  an FHSA home acquisition payment was previously made from an FHSA held by the person;

                             (ii)  the payment satisfies the FHSA payment conditions because of subsection 17(3);

                            (iii)  the contribution to the FHSA is by way of a recontribution of all or part of the FHSA home acquisition payment; or

                     (d)  the payment is repaid from the FHSA in accordance with:

                              (i)  subsection 25(2), 26(2) or 27(2); or

                             (ii)  subsection 992A(4) (unsolicited offer of financial product), section 1016F (defective product disclosure document) or section 1019B (cooling‑off period) of the Corporations Act 2001 ; or

                     (e)  the contribution is of a kind mentioned in subparagraph 51C(2)(b)(i) (recontribution of unclaimed money).